OPEN-SOURCE SCRIPT
VPA Trend Indicator
This Trend Indicator is a complimentary Indicator for the VPA Analysis Indicator. This Indicator provides the Trend bands for the Short term , medium Term an Long Term Trends. Green colour Indicator that the trend is UP. Yellow colour indicates there is no trend an the movement is sideways. Re colour Indicates that the trend is down. The Indicator uses the "Random Walk Index " for Trend evaluation. Th Random walk Index removes the noises an provides better Trend evaluation compared to traditional Moving Averages. This a good complimentary Indicator to make better decision and understanding the VPA conditions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.